NIO: Still a bull trend, as we thought.
Hello traders and investors! I told you that the main bias was bullish!
Let’s quickly update NIO’s last movements: Despite the main bullish bias, Nio was in a short-term bear trend, which was completely denied when it defeated the $ 46, as we said in our last analysis. The H&S chart pattern wasn’t triggered, so, we had no bearish confirmation in the mid-term (not even in the short-term). Check my last analysis about NIO, if you are curious. Link below.
Now, we see a powerful movement today, but it didn’t hit our target at $ 50.40 yet. What’s more, if it does a top sign around, it might drop to its support levels again, but we have no confirmation yet. Remember: To not get burned, always wait for confirmation.
We are quite close to the green line in the daily chart, but the problem is if today’s bar is an Exhaustion Bar or not.
It is too soon to say anything, but since we have a sequence of higher highs/lows in the daily chart, all we can assume is that the bias is still bullish. If NIO loses this bar’s low, then ok, it might see an Exhaustion Bar, indeed.
The idea of an H&S is now invalid, and now see no possible bearish reversal patterns around, just a possible pullback sign, if we lose today’s low.
These are my insights for NIO. If you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped you!
Thank you very much!
Let’s quickly update NIO’s last movements: Despite the main bullish bias, Nio was in a short-term bear trend, which was completely denied when it defeated the $ 46, as we said in our last analysis. The H&S chart pattern wasn’t triggered, so, we had no bearish confirmation in the mid-term (not even in the short-term). Check my last analysis about NIO, if you are curious. Link below.
Now, we see a powerful movement today, but it didn’t hit our target at $ 50.40 yet. What’s more, if it does a top sign around, it might drop to its support levels again, but we have no confirmation yet. Remember: To not get burned, always wait for confirmation.
We are quite close to the green line in the daily chart, but the problem is if today’s bar is an Exhaustion Bar or not.
It is too soon to say anything, but since we have a sequence of higher highs/lows in the daily chart, all we can assume is that the bias is still bullish. If NIO loses this bar’s low, then ok, it might see an Exhaustion Bar, indeed.
The idea of an H&S is now invalid, and now see no possible bearish reversal patterns around, just a possible pullback sign, if we lose today’s low.
These are my insights for NIO. If you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped you!
Thank you very much!
📚 DOWNLOAD OUR EBOOK ON TECHNICAL ANALYSIS FOR FREE!
✅ LEARN TO TRADE IN PRACTICE AND IN REAL TIME! CHECK OUT OUR WEBSITE FOR MORE DETAILS:
👉thefinancehydra.com/joinusnow
✅ LEARN TO TRADE IN PRACTICE AND IN REAL TIME! CHECK OUT OUR WEBSITE FOR MORE DETAILS:
👉thefinancehydra.com/joinusnow
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.